Accountancy, asked by LsEmpire7573, 1 year ago

Half Advertisement expenses is carried for next year
What is the entry
And posting

Answers

Answered by aiman69
0
prepaid advertising expense ac dr XXX
to cash ac XXX
(Being advertising expense paid )

posting


Balance sheet assets side
credit side of cash account


explained is as follows

To begin posting journal entries for prepaid expenses, first debit an asset account. And, credit the cash account (or whatever account you used to pay). You increase the prepaid expenses asset account and reduce the cash balance. The expense you record is the amount associated with the accounting period.


I HOPE IT WILL HELP YOU.
Answered by manu412phase3
2

Answer:

Prepaid advertisement expenses dr. amount

To Advertisement expenses. amount

Explanation:

Deduct prepaid advertisement expenses from advertisement expenses and show it in assets side of balance sheet.

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